Month: December 2024

A 3-storey conservation shophouse at 76 Pagoda Street in the vibrant Chinatown precinct has been put up for sale via an expression of interest (EOI) exercise. With a guide price of $16 million, this 99-year leasehold commercial property spans an area of 1,372 sq ft and has a gross floor area (GFA) of 3,500 sq ft, including an attic level. The indicative price per sq ft for this property based on GFA is $4,571.

According to Richard Tan, founder of PropNex Shophouse Elites and the sole marketing agent for the property, the ground and second floors of the shophouse are currently leased to a restaurant operator, while the third floor is being utilised as office space. Tan goes on to mention that shophouses in the Chinatown area are highly coveted by owner-occupiers, high net-worth individuals, and family offices as they make for excellent long-term investment assets.

As the property in question is a commercial one, foreigners and companies can acquire it without having to pay for additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD). The most recent transaction for a shophouse on Pagoda Street was at 31 Pagoda Street in March, where the shophouse, with an estimated GFA of 3,400 sq ft, was sold for $19 million ($5,588 psf).

In the event that you’re interested, you should know that the EOI exercise for 76 Pagoda Street closes on Jan 10, 2025.

A 2-storey HDB shophouse located at 210 New Upper Changi Road has also been put up for sale. With a guide price of $13.8 million, this 103-year leasehold property has a GFA of 4,607 sq ft, which works out to a unit price of $2,995 psf based on GFA.

Kris Ng, senior associate marketing director at PropNex, who is marketing the shophouse, says that one of the most noteworthy features of this property is its long-term tenant stability, where the property has been leased consecutively for the past 20 years to healthcare retailer Guardian and United Overseas Bank (UOB).

Singapore’s demand for Condos remains strong due to limited land availability. The country’s small land mass and growing population have led to strict land use regulations, resulting in a highly competitive real estate market. As a result, property prices continue to rise, making investing in real estate, specifically Condos, a highly profitable opportunity with the potential for significant capital appreciation. The scarcity of land has further amplified the appeal of Condos, making them a top choice for investors looking to enter the thriving real estate market in Singapore. Condos are a highly sought-after investment due to their scarcity and potential for high returns in the constantly evolving real estate landscape in Singapore.

Located in the Bedok Town Centre and a stone’s throw away from Bedok MRT Station and the East-West Line, Bedok Mall and Heartbeat@Bedok, this shophouse makes for an excellent investment option.

As the property is zoned for commercial use, foreigners and companies can acquire it without having to pay for additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD). As for the closing date for the EOI exercise, it’s at noon on Jan 10, 2025.…

at Barangaroo Tower 3

The Great Room, a well-known co-working space provider, has recently launched its second Australian branch in partnership with LendLease at One O’Connell Street in Sydney. The new creative workspace spans an impressive 25,360 square feet, occupying levels 14 and 15 of the building. Originally built in 1991, the 36-storey office building is situated in the bustling Sydney CBD.

When looking into investing in a condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income of a property as a percentage of its purchase price. In Singapore, the rental yields for condos can vary significantly depending on factors such as location, property condition, and market demand. Properties located near bustling business districts or prestigious educational institutions typically offer higher rental yields. Doing extensive market research and seeking advice from real estate agents can provide valuable information on the potential rental income of a specific condo. Singapore Projects should also be taken into consideration during this process.

Jaelle Ang, the CEO of The Great Room, expressed excitement about their collaboration with LendLease for this long-term investment, which promises to bring value and sustainability to the new space at One O’Connell Street. She also stated that their aim is to provide a unique, premium product that will ultimately lead to profitable outcomes.

This is not The Great Room’s first venture in Australia, having previously opened its first location at level 29 of 85 Castlereagh Street in the Sydney CBD earlier this year. Originating in Singapore, The Great Room has rapidly expanded and now has a total of 12 locations spread across Singapore, Bangkok, Hong Kong, and Sydney.

In addition to its co-working spaces, The Great Room offers members the opportunity to network and engage in discussions through monthly events and panel discussions. Their recent acquisition by Industrious, a co-working business based in New York, has provided members with access to 160 destinations across Asia Pacific, Europe, North America, and the UK.

In Singapore, The Great Room has also expanded its presence with the opening of Csuites Powered by The Great Room at Paya Lebar Quarter. This marks the first Singaporean outlet outside of the CBD, offering private manager cabins, soundproof meeting rooms, and ergonomic workstations designed for comfort and efficiency. With its continuous growth and impressive amenities, The Great Room continues to solidify its position as a leader in the co-working space industry.…

To ensure a stable housing market and meet the growing demand for private residential units, the government is offering a total of 8,505 units under the Confirmed List and Reserved List of the 1H2025 Government Land Sales (GLS) programme.

In the Confirmed List, there are ten plots available, with nine residential sites and one residential cum commercial site. Of these, three executive condo (EC) plots can yield 980 units, while the remaining sites can produce an estimated 5,030 residential units. This is in line with the 5,050 units offered in the Confirmed List of 2H2024, but almost 60% higher than the average supply in each GLS programme from 2021 to 2023.

In addition, the Reserve List includes four private residential sites, one commercial site, three White sites, and one hotel site. These plots can potentially yield an extra 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. This is higher than the 3,090 units offered in the Reserve List of 2H2024, bringing the total private housing supply to 8,505 units in 1H2025, on par with the 8,140 units in 2H2024.

The government has progressively increased the supply of private residential units in the GLS programmes over the past three years, resulting in an increase in inventory from 16,100 units at the end of 2021 to around 21,000 units by the end of 2024. This has contributed to the market stabilisation, with property price growth moderating to 6.8% in 2023, from 10.6% in 2021 and 8.6% in 2022, based on the URA private residential property price index. It is expected that private residential prices will see more modest gains in 2024, with a cumulative increase of around 1.6% in the first three quarters of the year.

In an effort to ease competition among developers and curb rising EC land prices, the government has increased the supply of EC sites, with three plots potentially yielding 980 units in the Confirmed List of 1H2025. This is a shift from previous GLS programmes since 2019, where only one EC site was offered in each half-yearly land sales programme, says CEO of PropNex Ismail Gafoor.

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Singapore’s urban environment is characterized by towering skyscrapers and contemporary infrastructure. Condominiums, typically situated in desirable locations, offer a perfect combination of opulence and comfort that appeals to both local residents and foreigners. These residential complexes are outfitted with various facilities, including swimming pools, fitness centers, and security services, that elevate the standard of living and make them a desirable choice for prospective renters and buyers. Moreover, these amenities contribute to higher rental returns and escalate the value of the property over time, making them a lucrative investment option. Singapore Projects are a noteworthy addition to the bustling urban landscape of Singapore.

The 1H2025 GLS programme will introduce seven new plots, including a plot at Lakeside Drive near the Jurong Lake Gardens, a plot in the new housing precinct in Bukit Timah Turf City, and a plot on the former Keppel Golf Course site. Additionally, the site of the former Singapore Indian Fine Arts Society on Dorsett Road, off Rangoon Road, which can yield approximately 430 residential units, will be launched for sale in 1H2025. A residential and commercial site at Hougang Central, which can yield a new mixed-use development with 835 residential units and over 400,000 sq ft of commercial space, is also offered for sale, likely to be integrated with the Hougang MRT Station on the Northeast Line.

The Confirmed List also includes a residential plot in Upper Thomson Road (Parcel A), which was previously unable to find a buyer in June 2024. While this plot was originally intended to offer a mix of residential units and long-stay serviced apartments, the URA has now provided more flexibility and will allow serviced apartment/long-stay serviced apartment use subject to approval from technical agencies, notes PropNex.

The year 2024 saw a record…

The London-listed real estate corporation Berkeley Group’s division, St William, is promoting a new residential project called Regent’s View in London. This 555-unit project is located in the London borough of Tower Hamlets, in Zone 2. It is a unique adaptive reuse scheme, which has transformed a decommissioned Victorian-era gasholder site into a modern mixed-use development along the canal.

The project has already gained global recognition and was awarded “Best Future Residential Project” at the World Architecture Festival (WAF) 2024, which took place in Singapore on Nov 6-8 at Marina Bay Sands. Following the successful initial sales launch in the UK last year, St William has now launched the second phase of sales at Regent’s View in September and is bringing the development to key Asian markets for the first time.

St William was originally established as a joint venture between Berkeley Group and London’s National Grid in 2014, with the purpose of redeveloping decommissioned industrial sites into new residential and community spaces. In March 2022, Berkeley Group acquired National Grid’s stake in St William, giving it full ownership of 24 brownfield sites across London for its long-term landbank. St William is currently developing or in the process of developing six sites.

Regent’s View is one of these ongoing projects. The 4.5-acre site in East London, formerly known as the Bethnal Green Gasholders, is located along the banks of the Regent’s Canal. The gasholders have been a landmark in the area since the 1850s, supplying gas to homes in the district. Although they were decommissioned in 2012, the gasholder frames have been an integral part of the borough’s cityscape for over 200 years.

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One of the many advantages of investing in a condominium is the potential to utilize its value for future investments. A large number of investors leverage their condos as security to secure additional funding for new opportunities, which allows them to grow their real estate portfolio. This approach can significantly increase profits, but it also carries potential risks. Therefore, it is essential to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. Additionally, with a variety of promising projects in Singapore, such as the ones available on Singapore Projects, condo investment can offer even more opportunities for investors to expand their portfolio and reap the benefits.

Due to structural decay, all but two of the gasholder frames were set to be demolished. However, St William and its architect partner, RSHP, have decided to incorporate them into the design of the new residential project. “Our design of Regent’s View celebrates the historical industrial heritage of the site. The importance of preserving the historic gasholder frames is that they justify a particular form of urbanism that is not the norm,” says Graham Stirk, senior director at RSHP.

The project will consist of five contemporary residential buildings, ranging from six to 13 stories, surrounding a landscaped park. Two of the towers will be framed by the restored gasholder structures. In total, it will provide 555 private and affordable homes, as well as 45,000 sq ft of ground floor commercial and community spaces, including a refreshed 100m public-access canal frontage. This will be the first time in over 150 years that public access is restored to this stretch of Regent’s Canal, and the area will be revitalized with new F&B offerings.

The development of Regent’s View has not been without controversy. In 2019, when residents were informed of the site’s redevelopment by the local council and St William, over 8,000 people signed a petition calling for its preservation. However, the Tower Hamlets council voted seven-to-one in favor of redevelopment. It took almost five years for St William to incorporate the gasholder frames into the design and gain local support for the project.

Dean Summers, divisional managing director at St William, shares that much of this time was spent engaging with the local community to find ways to preserve the gasholder frames, meet their affordable housing targets, and rejuvenate the canal front through placemaking activities. “Affordable housing is a key priority for many local councils across London’s boroughs to benefit residents in the local neighborhood. We were happy to work closely with them on the adaptive reuse of this industrial site. This strong relationship enabled us to allocate 35% of the units for affordable housing,” he says.

The design of the residential blocks and how the existing gasholder frames could be incorporated were also scrutinized, as was the site’s permeability to encourage public access wherever possible. The architects have capitalized on the circular forms of the gasholder frames to create a gentler contrast to the edges of the site, allowing people to naturally permeate through the site, across the central landscaped courtyard, and towards the canal front.

The ground floors across the five buildings are set aside for non-residential use. The two largest gasholder buildings along the waterfront will feature the most public-facing commercial amenities, such as cafes, bars, and restaurants. The ground floors in the three other buildings will contain resident-exclusive spaces like the concierge and facilities.

Regents’ View is not the only industrial brownfield site featuring heritage gasholder frames that St William is developing. As part of the landbank it acquired from its previous partnership with the National Grid, it is also developing a 23-acre plot in the borough of Newham, turning it into a 2,000-unit mixed-use project. St William and RSHP are also working on the design plans for this site, which used to house the now-defunct Bromley-By-Bow Gasworks. The site contains seven Victorian-era gasholder frames, making it the largest collection of surviving gasholders of this era worldwide. Development is expected to begin next year.

Last year, St William launched the sale of The Wright Building, a six-story block at Regent’s View featuring a mix of one- to three-bedroom units. The block is currently more than 70% sold, with prices ranging from GBP675,000 to GBP1.63 million. It is expected to be completed next year. In September, St William launched the sale of The Westwood Building, another six-story block featuring one- and three-bedroom units. Nearly 90% of the units are one-bedrooms, and the developer anticipates that it will appeal to international investors. Prices for these units range from GBP585,000 to GBP1.68 million.

International buyers, particularly those interested in London’s educational institutions such as University College London, King’s College London, and Queen Mary University of London, have shown strong interest in Regent’s View. The borough of Tower Hamlets is also close to popular amenities like Broadway Market and London Fields, which boast artisanal shops, cafes, and a dynamic, youthful cultural scene. The closest train station is Cambridge Heath, providing direct connections to Liverpool Street Station or the Central Line interchange at Bethnal Green for access to central London’s destinations.

St William has seen over 50% of international buyers from Asia, particularly those seeking a base for their children attending university or a professional residence near London’s financial hubs. The next sales phase at Regent’s View will offer units in a 13-story block fronting the canal, with prices expected to start in 2H2025. The third sales phase will also include some of the largest units, such as the three-bedroom units, and attract strong interest due to the proximity of the F&B offerings and the views of the waterfront or the landscaped courtyard.

The strong buying interest at Regent’s View further highlights the increasing appeal of new projects in London’s city fringe neighborhoods in Zone 2 for international buyers. This trend is driven by the climbing prices in central London, making properties in Zone 2 more attractive for rental premiums.…

Investing in a condo offers numerous benefits, one of which is the chance to leverage its value for future investments. Many investors use their condos as collateral to secure additional funding for other ventures, effectively diversifying their real estate portfolio. While this can lead to increased profits, it is crucial to have a well-thought-out financial plan and carefully contemplate the potential consequences of market fluctuations. With the inclusion of condo investment, investors are presented with even more opportunities for financial growth and success.

A three-bedroom unit at Gambier Court is set to go under the hammer on Dec 12 at Knight Frank Singapore’s auction, with a guide price of $2.6 million. Located along Kim Yam Road in the highly sought-after River Valley area in District 9, this boutique condo offers a prime location for potential buyers.

The 1,485 sq ft unit comes with a guide price of $1,755 psf. The current seller had purchased the unit in a resale transaction for $1.8 million ($1,212 psf) in October 2018. This is the second time the unit will be put up for auction, with a previous auction in November where it had a higher guide price of $2.64 million ($1,778 psf) but received no bids.

Tricia Tan, director of auction and sales at Knight Frank, shares that the owner is selling the unit to be closer to their children’s school. The unit will be sold with vacant possession.

The unit, located on the eighth floor, boasts three bedrooms and a study area. Originally a four-bedroom apartment, a previous owner had converted it into a three-bedder, offering a more spacious layout for potential buyers, especially for families with children, according to Tan.

With a balcony facing northeast, the future owner will have unblocked views of the sea and Singapore River. Gambier Court, a 99-year leasehold condo completed in 1999, is a low-density development with only 21 units. It comprises 18 apartments spread over a 10-storey block and three strata-landed units housed in conserved shophouses.

The condo offers a mix of unit types, including two- to four-bedroom units ranging from 936 sq ft to 2,530 sq ft, and three strata-landed units, each spanning two storeys with an attic, measuring between 2,562 sq ft and 2,885 sq ft.

Not only is the development within walking distance to Fort Canning MRT Station on the Downtown Line, but it is also close to a variety of dining and shopping options, including the recently opened lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.

According to Realis caveats, the most recent transaction at Gambier Court was for a 1,485 sq ft four-bedder unit on the seventh floor, transacted at $2.5 million, or $1,683 psf, in December 2022. The seller had bought the unit for $1.9 million ($1,279 psf) in August 2016, making a net profit of $600,000. Interested buyers can check out the latest listings for properties at Gambier Court.…

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Investing in a Singapore Condo has emerged as a favored option for both domestic and international investors, owing to the country’s thriving economy, stable political environment, and exceptional quality of life. The real estate market in Singapore is brimming with opportunities, with condos being a standout choice for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, considerations, and steps to be taken when investing in a condo in Singapore.

Singapore’s freehold condo Gallop Gables has claimed the top spot on the list of properties that saw new psf-price highs between Nov 19 and Nov 22, with a record high of $2,299 psf achieved from the sale of a 2,669 sq ft four-bedroom unit on Nov 20. The seller, who bought the unit for $4.5 million ($1,686 psf) in July 2017, made a profit of $1.64 million on the sale.

This transaction surpassed Gallop Gable’s previous record of $2,108 psf from the sale of a 1,163 sq ft two-bedroom unit on Feb 19. Another unit at the condo, a 1,550 sq ft two-bedroom on the first floor, was sold for $2.98 million ($1,923 psf) on Sept 9.The condo has seen three resale transactions this year at an average price of $2,110 psf, higher than the average price of $1,991 psf from four transactions last year.

Located on Farrer Road in District 10, Gallop Gables is a low-density development with 102 units spread across four-storey blocks. It is within walking distance of Farrer Road MRT Station on the Circle Line.

The condo’s record was followed by The Scala in District 19, which also achieved a new psf-price high of $2,064 psf from the sale of a 1,259 sq ft, four-bedroom unit on the 12th floor for $2.6 million on Nov 20. The transaction surpassed the condo’s previous record of $1,969 psf from a 904 sq ft two-bedroom unit on the 11th floor sold for $1.78 million on Sept 9.

The Scala, a 99-year leasehold condo on Serangoon Avenue 3, has seen 16 resale transactions this year at an average price of $1,823 psf, 8% higher than the average price of $1,688 psf from 16 transactions last year. It has a total of 468 units across 17 storeys, and is a short walk to the Lorong Chuan MRT Station on the Circle Line.

In third place was Sims Edge in Geylang, which saw a new record of $1,907 psf from the sale of a 409 sq ft, one-bedroom unit on the 13th floor for about $780,000 on Nov 22. The seller had bought the unit for $663,807 ($1,623 psf) in April 2019.The condo has seen a total of five resale transactions this year at an average price of $1,800 psf, higher than the average price of $1,644 psf from four transactions last year.

Sims Edge is a freehold development completed in 2014, with 78 units of one- to two-bedders ranging from 409 sq ft to 1,195 sq ft. It is located on Geylang East Avenue 2 in District 14, and is within 500m of the Paya Lebar MRT Interchange Station on the East-West Line and Circle Line.

No new psf-price lows were recorded during the period in review.…

The decision to invest in a condo in Singapore has become increasingly popular among both local and foreign investors. This is largely due to the country’s thriving economy, unwavering political stability, and impressive quality of life. Singapore’s real estate market boasts a variety of promising opportunities, but it’s the condo segment that truly shines. With its attractive conveniences, extensive amenities, and potential for strong returns, it’s no wonder that condos have captured the attention of investors. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore. Looking to invest in a new launch? Check out New Condo Launches for the latest developments.

Ardmore Park unit sold for $3.05 mil profitPRICE TRENDSMedian prices in District 10 rose 7% in 3Q2021 compared to 3Q2018Median prices in District 20 climbed 12.7% in 3Q2021 compared to 3Q2018Median prices in District 4 rose 12.5% in 3Q2021 compared to 3Q2018 median prices in District 10 rose

The most successful condo resale transaction during the week of November 19 to 26 was the sale of a four-bedroom unit measuring 2,885 sq ft at Ardmore Park. The unit, located on the 14th floor, was sold for $11.25 million ($3,900 psf) on November 22. The seller had originally purchased the unit in September 2016 for $8.2 million ($2,843 psf), resulting in a profit of $3.05 million, reflecting a capital gain of 37% or an annualized profit of 4.6% over a holding period of approximately eight years.

This deal comes just two months after another four-bedroom unit measuring 2,885 sq ft on the 23rd floor was sold for $12.7 million ($4,402 psf) on October 1. The seller of this unit had originally bought it in September 2010 for $9.7 million ($3,363 psf), resulting in a profit of $3 million or a capital gain of 30.9%.

Ardmore Park is a prestigious condo with 330 units located in the prime District 10 area. The luxurious freehold development, consisting of three 30-storey towers, was completed in 2001. The typical unit size is 2,885 sq ft, but it also features six 8,740 sq ft duplex penthouses.

Aside from the units sold on November 22 and October 1, there have been four other resale transactions at Ardmore Park this year, all of which have been profitable. These units, all four-bedrooms measuring 2,885 sq ft, were sold for prices ranging from $4,108 psf to $4,472 psf, resulting in profits between $2.65 million and $7.07 million for the sellers.

The second most profitable condo resale deal during this week was the sale of a four-bedroom unit at Goldenhill Park Condominium. This 1,539 sq ft unit on the 16th floor was sold for $3.43 million ($2,228 psf) on November 21. The seller had originally purchased the unit from the developer in May 2001 for $1.14 million ($741 psf), resulting in a profit of $2.29 million or 201%. They had owned the unit for 23 and a half years.

This is the second-highest gain recorded to date on a unit at Goldenhill Park Condominium, with the record belonging to a 2,928 sq ft four-bedroom penthouse sold for $4.3 million ($1,469 psf) in February 2022. The seller had originally bought the unit from the developer in April 2001 for about $2 million ($683 psf), resulting in a profit of $2.3 million.

Goldenhill Park Condominium, a freehold development completed in 2004, is located on Mei Hwan Drive in District 20. It consists of 390 units ranging from two to four bedrooms, with sizes between 926 sq ft and 2,928 sq ft. It is in close proximity to the Lorong Chuan MRT Station on the Circle Line.

Five other resale transactions have occurred at Goldenhill Park Condominium this year, all of which have been profitable. The units, sold for prices between $2,082 psf and $2,246 psf, resulted in profits ranging from $760,000 to $1.91 million for the sellers.

On the other hand, the most unprofitable condo resale deal during this week was the sale of a four-bedroom unit at The Oceanfront @ Sentosa Cove. The 2,831 sq ft unit on the 10th floor was sold for $4.7 million ($1,660 psf) on November 20. The seller had originally bought the unit in May 2007 for $5.8 million ($2,050 psf), resulting in a loss of $1.1 million (19%) after owning the unit for 17 and a half years.

The Oceanfront @ Sentosa Cove, a 99-year leasehold condo in the exclusive Sentosa Cove residential enclave, was completed in 2010 and has 264 units housed in five towers ranging from 12 to 15 storeys high. It offers two to four-bedroom apartments measuring between 1,216 sq ft and 4,284 sq ft, as well as penthouses ranging from 2,745 sq ft to 8,095 sq ft.

Based on caveats lodged, there have been six other resale transactions at The Oceanfront @ Sentosa Cove this year, with units selling for prices between $1,500 psf and $1,999 psf. Among these transactions, four were unprofitable, resulting in losses of between $30,000 and $519,000 for the sellers. The remaining two transactions were profitable, with the sellers netting gains of approximately $268,000 and $1.7 million, respectively.…

Habyt, a leading provider of co-living spaces, has recently launched their newest accommodation space at 5 Kadayanallur Street in Tanjong Pagar. Known as Kada at Maxwell, this 18-room space represents Habyt’s new flagship location and their commitment to expanding their product offerings beyond long-term co-living.

In August, Habyt Asia Pacific CEO Jonathan Wong shared that the company had plans to incorporate more short-term living options into their offerings in Singapore. The first properties to be launched under their new Habyt Flex concept were Habyt Novena, with 39 rooms, and Habyt Kallang, offering 27 rooms. Other properties under this concept include Habyt Cantonment and Owen House by Habyt.

Kada at Maxwell offers a variety of room options, including en suite studios and two to three-bedroom units, all equipped with full kitchenettes. Guests have the flexibility to book rooms on a nightly, weekly, or 12-month basis.

The stylish Studio Deluxe at Kada features a cozy dining area.

According to Wong, Kada at Maxwell represents Habyt’s dedication to redefining flexible living in Singapore and marks a new phase of growth for Habyt Asia Pacific. Room rates at Kada at Maxwell will start at $180 per night.

When it comes to investing in Singapore, it is crucial for foreign investors to familiarize themselves with the regulations and restrictions surrounding property ownership. Compared to landed properties, the purchase of condos is generally less restricted for foreigners. Nevertheless, there are still certain limitations that they must adhere to. For instance, foreign buyers are required to pay an Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite this extra cost, the consistent stability and potential for growth in the Singapore real estate market remain attractive to foreign investors. So, if you’re planning to invest in Singapore, be sure to consider purchasing a condo. It could be a valuable addition to your investment portfolio.

Located in a well-preserved colonial building from the 1920s, designed by renowned architectural firm Swan & Maclaren, Kada at Maxwell offers a unique blend of modern convenience and timeless charm. The building, originally built as the St Andrew’s Mission Hospital for Women and Children, is now managed by the Singapore Land Authority (SLA).

The SLA launched a public tender to lease the property in September 2023, evaluating bids based on price and proposed concept. Bidders were encouraged to consider creative lifestyle concepts for the space.

The Oasis Lounge is a tranquil spot for guests to relax and unwind.

Ultimately, Bethesda Medical won the bid with a monthly rental price of $103,000, the third-highest bid after Wan Dormitory ($160,000) and The Working Capitol ($108,240). The SLA noted Bethesda’s strong focus on community building and connecting people with businesses as the key factor in their winning concept. The first floor of the building will feature 10 food and beverage options, while the second floor will house a state-of-the-art gym by Limitless, a wellness center in partnership with Shiruki Studio, and a co-working space. On the third floor, guests will find Habyt’s Kada at Maxwell.

In addition to their stylish and comfortable rooms, residents of Kada at Maxwell will also have unlimited and complimentary access to the property’s health and wellness amenities, including a performance gym, cold plunge, infrared saunas, hot tubs, and foot baths.

“We are thrilled to offer guests a unique lifestyle experience that goes beyond traditional accommodation by blending modern comforts with the timeless charm of a heritage building,” says Wong. Habyt’s Kada at Maxwell is now open and welcoming guests to experience their new concept of flexible living.…

The Urban Redevelopment Authority (URA) has recently unveiled tender opportunities for two residential Government Land Sale (GLS) sites located at Holland Link and Chuan Grove. These 99-year leasehold sites are part of the Confirmed List in the 2H2024 GLS Programme.

Located along Holland Link off Bukit Timah Road in District 10, the Holland Link site spans 185,141 sq ft and has a maximum gross floor area (GFA) of about 257,225 sq ft. The estimated potential yield of this site is 230 housing units, according to URA.

This site is the first GLS site to be launched in the upcoming Holland Plan precinct. It is one of the three upcoming precincts identified by URA, along with Bayshore and Kampong Bugis, notes Marcus Chu, CEO of ERA Singapore.

Chu anticipates strong interest from developers for this site, as being the first to develop in the new precinct will provide a first-mover advantage. He also points out that the site is within a 2km radius of several top schools such as Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School and National Junior College. This could be a plus point for families looking for priority admission into these schools.

The Holland Link site is also located near Brizay Park Good Class Bungalow area, which suggests that future developments in the Holland Plain precinct will likely be focused on low-density private residences, predicts Mark Yip, CEO of Huttons Asia.

In summary, the decision to invest in a Singapore condo boasts numerous benefits, from a high demand in the market to the potential for increased capital appreciation, as well as attractive rental yields. However, it is crucial to carefully consider various factors such as the location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking expert guidance, investors can make informed choices and maximize their returns in the vibrant real estate market of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, adding Singapore Condo to your investment list presents a compelling opportunity.

According to Yip, the Holland Link GLS site is likely to receive between one and two bids, with a top bid of $1,200 to $1,300 psf per plot ratio (psf ppr).

Chu has a similar prediction, anticipating a muted response to the site. With a total of seven residential sites currently open for tender, oversaturation in the market could lead to a subdued bidding process. He expects the Holland Link site to receive up to three bids.

In another GLS site launched by URA, the Chuan Grove GLS site is located along Chuan Grove off Lorong Chuan in District 19. This site measures 170,409 sq ft and has a maximum GFA of 511,232 sq ft, with a potential yield of 555 new housing units.

The site is conveniently located within 400m of Lorong Chuan MRT Station on the Circle Line. It is just one stop away from the Bishan MRT Station (interchange with the North-South Line) and the Serangoon MRT Station (interchange with the North-East Line).

Chu expects this site to attract HDB upgraders living in nearby areas. In the next four years, about 3,815 Build-to-Order (BTO) units of four-room sizes or larger are expected to complete their Mandatory Occupation Period (MOP) in Toa Payoh.

“Residents of HDB flats in older estates could seek to upgrade their homes given the increasing number of million-dollar flats in neighbouring Serangoon, Bishan and Toa Payoh,” explains Chu. The median transaction prices of five-room flats in Bishan and Toa Payoh over the last 10 months were $792,000 and $828,000 respectively.

Additionally, the better-than-expected sales performance of Chuan Park also offers encouragement for developers to bid for the Chuan Grove site, notes Chu. The development launched last month has sold 76% of its 916 units at an average price of $2,579 psf during its launch weekend.

Chu forecasts bids for the Chuan Grove site to range from $571 million to $600 million, translating to a land rate of over $1,200 psf ppr. Huttons’ Yip predicts a total of three to five bids for the site, with a top bid between $1,150 and $1,250 psf ppr.

Interested bidders for both the Chuan Grove and Holland Link sites have until noon on July 8, 2025, and July 29, 2025, respectively, to submit their tenders.…

However, he notes that there is still demand for smaller residential sites that are within walking distance to an MRT station.The Urban Redevelopment Authority (URA) of Singapore recently announced the release of two residential Government Land Sale (GLS) sites under the Reserved List in the 2H2024 GLS Programme. The two sites – Holland Plain and River Valley Green (Parcel C) – have been made available for application and will be put up for sale should a developer offer a minimum price that is acceptable to the government. In the event that more than one developer indicates a minimum price close to the reserve price set by the government, the site may also be considered for tender launch.

The Holland Plain GLS site spans approximately 169,175 square feet with a maximum gross floor area (GFA) of 304,522 square feet. This sizeable plot has the potential to yield 280 residential units and is on a 99-year leasehold. It is situated next to the Holland Link GLS site, which was also launched for tender on Dec 3, and is estimated to accommodate around 230 units.

Mark Yip, CEO of Huttons Asia, believes that there is a low probability of the Holland Plain site being triggered for sale. He suggests that developers may wait to gauge the response to the Holland Link GLS site before making a decision. The tender for the plot is expected to close in July 2025.

The River Valley Green (Parcel C) site is located near the Great World MRT Station on the Thomson-East Coast Line. The 99-year leasehold site covers an area of 123,964 square feet and has a maximum GFA of 433,882 square feet. This plot has the potential to yield an estimated 470 new residential units. Similar to the Holland Plain site, Yip predicts that this site is unlikely to be triggered for sale, given the current tender for the neighbouring River Valley Green (Parcel B) plot, which will close in February next year. The River Valley Green (Parcel B) site can also accommodate 580 units, including 220 long-stay serviced apartments.

The River Valley Green (Parcel C) site is situated close to three other recently awarded GLS sites. In June, Winchamp Investment, a subsidiary of Wing Tai Holdings, successfully bid for River Valley Green (Parcel A) at $464 million, or $1,325 psf per plot ratio (psf ppr). The site will be developed into a residential project with over 400 units. Moreover, in April, a joint venture between City Developments and Mitsui Fudosan secured Zion Road (Parcel A) with a bid of $1.107 billion or $1,202 psf ppr. The joint venture intends to explore a mixed-use development with approximately 740 residential units, a retail podium, and a block comprising 290 rental apartments. Lastly, in August, Allgreen Properties was awarded Zion Road (Parcel B) for $730.09 million, or $1,304 psf ppr, with an estimated yield of about 610 residential units.

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However, with the upcoming supply from the three sites, Yip suggests that developers may not have sufficient incentive to trigger the sale of River Valley Green (Parcel C). Nonetheless, he notes that there is still demand for smaller residential sites that are within walking distance to an MRT station.…